Oman's Al Anwar says board approves Falcon Insurance stake sale

January 31, 2016 7:08 AM

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DUBAI Jan 31 Oman's Al Anwar Holding said on Sunday its board had approved a proposal to sell a stake in its affiliate Falcon Insurance for 1.2 times book value.

The transaction, which the diversified holding company said on Jan. 13 had been proposed by an "interested party" through Oman Arab Bank, is subject to the completion of due diligence and regulatory approvals, according to a bourse filing.